Tag Archives: money

Thoughts on Bitcoin and Cryptocurrencies

Last October, I stumbled upon the Netflix documentary titled Banking on Bitcoin. Immediately afterward I began researching and educating myself on all things Bitcoin and cryptocurrencies related. Since I’ve watched that documentary, I don’t think a single day has passed where I don’t read and think about Bitcoin and other cryptocurrencies.

There’s a story I read somewhere that involved the British philosopher & mathematician Bertrand Russell. The story goes that Bertrand was hosting a birthday dinner at his home with many famous and smart friends. He was in his late nineties at the time of the event (Bertrand Russell passed away when he was 98 years old), so the birthday dinner had a sort of farewell vibe.

Eventually, at some point, one of the dinner guests proposes a question to Bertrand. I don’t remember the exact wording of the question, but it went something like,

“Mr. Russell, after spending a lifetime reading, writing, studying philosophy and mathematics, what’s something you can tell us for certain? What have you learned?”

I can imagine the entire dinner table stopped their side conversations, finished chewing their food, and put down their eating utensils, only to listen eagerly.

Bertrand said something like, “I’ve learned, that I actually know nothing.”

That’s, definitely, not the kind of answer I would expect. I’m sure many of Bertrand’s guests thought the same thing.

But, that’s exactly how I feel the more I read and learn about Bitcoin and cryptocurrencies. The more questions I answer, the more questions I simultaneously uncover. The more I dig into cryptocurrencies, the more I realize there’s left to dig.

It’s a technology that is going to change everything, like railroads, the gasoline powered engine, and the world wide web. Blockchain, the underlying technology behind Bitcoin, will be revolutionary. Of course, we just need to give it sometime to grow and develop. Exactly, how the internet took many decades to develop and grow. A lot of the upcoming blockchain discoveries are still being researched and developed, in computer laboratories, all over the world.

I believe that those who spend the time researching blockchain, today, will be miles ahead of those who choose to ignore it. Imagine if you had created a simple blog, exactly when it was possible to do so with the internet. You would have a multimillion dollar web page in your hands today!

That’s the kind of potential that we are witnessing once again. It’s very exciting, and that’s why I can’t stop reading, thinking and talking about Bitcoin and crypotocurrencies .

How to win the career lottery

If you’ve been looking to win the career lottery, Chris Guillebeau has laid down the formula to achieve just that in his new book Born For This. His new book revolves around the idea of finding a career that provides you with joy + money + flow. If you find a career that provides you with these three aspects, then you will feel as if you have won the career lottery.

If you are wondering what joy, money and flow are referring to, then let me explain. Joy is referring to doing something that makes you happy. You have to enjoy your career/ job in order to feel like you have won the career lottery. You won’t be happy to go to work everyday if you hate your job, even if you are making good money. Joy is a key component that Chris advises not to overlook.

Money is referring to…well…money. You have to be able to earn a living in order to feel lucky and happy. You can’t do something that makes you happy if you are not able to eat, pay rent or occasionally have dinner with friends. You will quickly run out of happiness if you aren’t able to meet your ideal lifestyle goals.

Flow is referring to a career that is using your unique skills. You have to be skilled at what you are doing to hit flow. A career that provides you with flow is a career that you are able to get lost in. Have you ever worked on a project that you got lost in for hours at a time? This happens when you get so involved in what you are doing that you lose track of time. Time seems to fly by without you noticing. This is a good place to be when you are working. That is called flow. You won’t feel that you won the career lottery if you are constantly looking at the clock every three minutes.

If you want to win the career lottery it is going to require you to find a career that provides you with joy, money and flow. Chris also refers to this as finding the work you were meant to do. Chris lays out a few different plans that are meant to help you think about the various career paths that could provide you with the three important pieces of the puzzle. It is essential to keep in mind that if you are not currently in your ideal job, Chris advises for you to continue to experiment until you hit your career lottery.

In Chris’s words, here are the 10 key points of Born For This:

– There’s more than one possible path. Use the Joy-Money-Flow model to find the best one. 

– Craft backup plans. They will allow you to take more risks and make better choices. 

– Make a commitment to resign your job every year.

– Improving “soft skills” can increase your value no matter what kind of career you have.

– Stop storing things in your head. 

– Choose your own job title.

– Hack your job to create the best possible working conditions. 

– Create a “side hustle” even if you never plan to work on your own full-time.

– Don’t fear commitment.

– If something isn’t working, give up.

There you have it. Honestly, this is a quick and easy book to read. Before you know it you will be half way done. If you want to learn more about finding the work that you were meant to do you can purchase Chris’s book here —> <—.

You should buy experiences and avoid objects

You should buy experiences and avoid objects. While objects will continue to pile up and eventually hold you back, experiences never will. Experiences will live forever in your memory and you can take them everywhere you go hassle free. Experiences will add to the quality of your life and they won’t ever hold you back. An experience can be a trip, hanging out with a friend, going out on a date or visiting a new location. An experience can even be enjoying a cup of coffee at a coffee shop, or enjoying your favorite beer at a cool bar. These are experiences because once you drink the coffee or beer, you are in no way obligated to keep the paper cup or glass bottle with you forever. You simply toss it away and all you are left with is the memory of the experience.

If you buy too many objects, you will notice that they will continue to pile up and never go away. Objects will stack up in your home and eventually flow into your garage. They get on your way and become a hassle. They stay with you even after the excitement of the object has long been extinguished. Objects are shirts, shoes, jewelry, souvenirs, home decorations and movies. When you buy an object you get some satisfaction from it. Once the satisfaction from the object disappears, the object still lingers with you nearly forever. For example, if you buy a nice shirt you might get some satisfaction from wearing it around five times but after those few times you will no longer be receiving any satisfaction from it, yet the shirt will continue to take up space in your closet or drawer. It will take up space in your home, probably forever, because if you are like most people you will feel guilty about throwing away a perfectly good shirt.

When you decide to move, you will have to drag that shirt along with you. When you move you will have to drag all those shirts, shoes, decorations, random objects and souvenirs along with you. On the other hand if you had your favorite beer at a bar, once you finish the beer, you are done with the experience and you never have to physically lug it around with you forever or keep physical space for it anywhere. That is why you should buy experiences over objects.

Of course, we need some shirts, shoes and decorations. The point, is to not let it get out of hand. Keep in mind that every object you buy will be renting a piece of your home forever. Do you really want that additional object that much? Whenever given the choice, choose to allocate your money towards spending on experiences rather than more objects.

The way to wealth

The Way to Wealth by Benjamin Franklin is full of great information. Surprisingly, it is a pretty quick read and a definite must read for everyone. Benjamin Franklin was a man who read every book he could get his hands on since he was 12-14 years of age. He would work and save up money to buy small sets of books. After reading that set of books, he would sell them in order to purchase a different set of books. He was a learning machine throughout his life and he was always looking for smart/ interesting people to learn from.

My favorite paragraph from The Way to Wealth is the one that follows. We can complain about the taxes and the economy, but at the end of the day our destiny is in our own hands. Taxes and the economy may be hurting your chances but you know what is worst than those two put together? Your laziness, pride and folly. Sitting on your a$$ complaining is doing far more harm than any government tax.

“Friends, says he, and neighbors, the taxes are indeed very heavy, and if those laid on by the government were the only ones we had to pay, we might more easily discharge them; but we have many others, and much more grievous to some of us. We are taxed twice as much by our idleness, three times as much by our pride, and four times as much by our folly, and from these taxes the commissioners cannot ease or deliver us by allowing an abatement. However let us hearken to good advice, and something may be done for us; God helps them that help themselves, as Poor Richard says, in his almanac of 1733.”

I found a PDF version of the entire essay that you can check out and read here.